Hut 8 (NASDAQ:HUT) Insider Sells $808,097.94 in Stock

Hut 8 Corp. (NASDAQ:HUT) insider Victor Semah sold 10,518 shares of the company’s stock in a transaction on Monday, May 4th. The stock was sold at an average price of $76.83, for a total value of $808,097.94. Following the completion of the sale, the insider owned 41,378 shares of the company’s stock, valued at $3,179,071.74. This represents a 20.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Victor Semah also recently made the following trade(s):

• On Tuesday, March 10th, Victor Semah sold 5,498 shares of Hut 8 stock. The shares were sold at an average price of $49.05, for a total value of $269,676.90.

Hut 8 Stock Up 1.4%

Shares of HUT stock traded up $1.10 on Monday, hitting $78.08. The stock had a trading volume of 3,032,447 shares, compared to its average volume of 4,799,491. Hut 8 Corp. has a one year low of $12.23 and a one year high of $83.18. The business has a 50 day moving average price of $58.21 and a 200 day moving average price of $52.29. The company has a market cap of $8.79 billion, a PE ratio of -33.66 and a beta of 4.48. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.12.

Institutional Trading of Hut 8

A number of institutional investors have recently made changes to their positions in HUT. Millennium Management LLC increased its position in Hut 8 by 11.9% during the 1st quarter. Millennium Management LLC now owns 330,416 shares of the company’s stock valued at $3,839,000 after buying an additional 35,120 shares in the last quarter. Prudential Financial Inc. acquired a new stake in Hut 8 in the second quarter worth about $216,000. Russell Investments Group Ltd. grew its stake in shares of Hut 8 by 235.8% during the second quarter. Russell Investments Group Ltd. now owns 2,448 shares of the company’s stock worth $46,000 after acquiring an additional 1,719 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of Hut 8 by 19.9% during the second quarter. New York State Common Retirement Fund now owns 32,540 shares of the company’s stock worth $605,000 after acquiring an additional 5,400 shares during the last quarter. Finally, Invesco Ltd. increased its holdings in shares of Hut 8 by 13.2% during the second quarter. Invesco Ltd. now owns 1,067,985 shares of the company’s stock valued at $19,865,000 after acquiring an additional 124,439 shares in the last quarter. Institutional investors and hedge funds own 31.75% of the company’s stock.

Analysts Set New Price Targets

HUT has been the subject of several research reports. Citigroup reaffirmed an “outperform” rating on shares of Hut 8 in a research report on Tuesday, April 28th. B. Riley Financial boosted their price objective on shares of Hut 8 from $61.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, January 9th. BTIG Research upped their target price on Hut 8 from $55.00 to $90.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Weiss Ratings cut Hut 8 from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, March 2nd. Finally, Piper Sandler lifted their price target on Hut 8 from $74.00 to $93.00 and gave the company an “overweight” rating in a report on Tuesday, April 21st. Sixteen research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $76.38.

About Hut 8

Hut 8 Corp., trading on the Nasdaq under the symbol HUT, is a North American digital infrastructure company specializing in cryptocurrency mining and high‐performance computing. Founded in 2017 and headquartered in Toronto, Canada, Hut 8 operates purpose‐built data centers that house fleets of specialized ASIC and GPU servers. Through its flagship mining facilities in Alberta and Ontario, the company leverages low‐cost, low‐carbon power sources—such as hydroelectric and natural gas—to support sustainable bitcoin production.